By Patrick Lantrip

Loeb Properties has announced it will build a new retail center at 2046 Union Ave., around the corner from Overton Square.

Rendering of the retail center Loeb Properties will build at 2046 Union Ave. near Overton Square

(brg3s architects/Loeb Properties)

The new 7,500-square-foot Midtown building, which will sit at the corner of Union Avenue and Diana Street, will include a restaurant with patio option, dedicated parking lot, Union Avenue frontage and “contemporary features.”

In conjunction with the announcement, the company filed a $1.2 million building permit application with the city-county Office of Construction Code Enforcement for the new building.

Loeb currently is preleasing the last remaining 2,250 square feet of availability, which is ideal for restaurant or retail use, according to the company.

"This constitutes a rare opportunity for a tenant to move into brand-new retail space on Union Avenue in the heart of Midtown," says Aaron Petree, CCIM, Loeb's leasing broker for the property.

Demolition on the existing building, which was a former Valvoline Instant Oil Change location, will begin April 1, with construction on the new building beginning in May and wrapping up this fall.